The directors present the strategic report for the year ended 31 December 2025.

During 2025, the Group continued to deliver engineering, mechanical and electrical installation projects for key clients across multiple jurisdictions. The directors believe the Group’s reputation for reliable delivery, technical capability and flexibility continues to support repeat business and opportunities in international markets.

Group turnover for the year was £17,565,073, compared with £18,065,089 in 2024. Although revenue decreased slightly year on year, gross profit increased to £6,537,545 from £6,421,474, and operating profit increased to £1,807,969 from £344,304. Profit after tax for the year was £1,680,113, compared with £939,875 in 2024. Net assets increased to £5,055,048 at 31 December 2025, compared with £3,601,676 in the prior year. Cash at bank and in hand increased to £3,465,171 from £2,958,034. These results reflect improved project performance, continued cost discipline and active management of the Group’s operations and asset base. They also demonstrate that the Group’s continued investment in its finance function is beginning to yield tangible benefits through stronger financial oversight, enhanced cost control and improved protection of project margins.

The Group’s revenue profile continued to evolve during the year. Activity in the United Kingdom increased by 97.2%, while revenue generated in Rest of World markets increased by 38.2%. Revenue from Europe decreased by 59.1%. The directors continue to monitor geographic diversification carefully and remain focused on securing work across a broad range of markets in order to reduce concentration risk and support sustainable long-term growth.

The Group continued to strengthen its internal processes and financial oversight during the year. The finance function maintained close involvement in reporting, budgeting, cost control and working capital management across the business, ensuring strong visibility over operational and commercial performance. At the same time, the Group continued to advance the global automation of company processes in order to improve consistency of controls, efficiency and transparency across its international operations. These developments have enhanced oversight of project and overhead costs, improved the quality of management information and supported more disciplined decision-making across the Group.

During the year, one of the Group’s properties was reclassified as an investment property following the cessation of an intra-group lease and the commencement of a lease to a third-party tenant from July 2025. This resulted in the recognition of an investment property at fair value of £725,000 at the year end. The directors view this as an example of active management of the Group’s asset base and resources.

The Group operates in a complex international environment and remains exposed to changes in legal, tax, health and safety, employment and commercial requirements across multiple jurisdictions. The directors continue to address these matters through proactive planning, experienced project management, improved financial oversight and close monitoring of operational performance.

The directors recognise that the Group’s activities expose it to a number of business risks and uncertainties, including the following:

Market conditions
Demand for automation, engineering and logistics-related services is influenced by customer investment cycles, wider economic conditions and confidence in major capital projects. A slowdown in spending by customers could reduce order volumes or delay new project awards.

Regulatory and cross-border compliance
Operating across several jurisdictions exposes the Group to differing legal, tax, payroll, employment, immigration and health and safety requirements. Failure to comply could result in penalties, disputes, delays or reputational damage. The Group seeks to mitigate this risk through use of internal controls, external advisers where appropriate, and ongoing review of local compliance obligations.

Project execution
Large and technically complex projects may be affected by delays, variations, supply chain issues, cost overruns or performance-related matters. These risks are managed through detailed project planning, regular commercial reviews, active site management and oversight by experienced operational teams.

Contract estimation and revenue recognition
The Group recognises revenue on long-term contracts by reference to the stage of completion and estimated costs to complete. This requires management judgement and ongoing review. Unexpected project developments, inaccurate estimates or unapproved variations may affect reported margins and profitability. The Group mitigates this risk through regular contract reviews, budget monitoring and management challenge over project forecasts.

Working capital and cash collection
The Group’s project-based activities can result in significant balances in debtors, accruals and deferred income. Delays in billing, certification or customer payments may place pressure on working capital. This risk is managed through close monitoring of billing milestones, debtor recovery and short-term cash flow forecasting.

People and skills
The Group’s continued success depends on attracting, retaining and developing skilled employees in both operational and support functions. The directors continue to prioritise recruitment, retention, training and the strengthening of key support functions.

Foreign exchange
Given the Group’s international footprint, it is exposed to exchange rate movements that may affect results, cash flows and net assets. This exposure is monitored on an ongoing basis as part of normal financial management.

The directors believe that the Group’s risk management framework, supported by strengthened internal processes and financial oversight, remains appropriate to the scale and nature of the business.

The directors monitor the performance of the Group using a range of financial and operational measures. The principal financial key performance indicators are turnover, gross profit, operating profit, cash and net assets.

Turnover for the year was £17,565,073 (2024: £18,065,089). Gross profit increased to £6,537,545 (2024: £6,421,474), while operating profit increased to £1,807,969 (2024: £344,304). Profit after tax increased to £1,680,113 (2024: £939,875). Net assets at the year end were £5,055,048 (2024: £3,601,676), and cash at bank and in hand was £3,465,171 (2024: £2,958,034).

The directors also closely monitor project margins, working capital, debtor recoverability and the quality of forecasting on contracts in progress. These measures are considered particularly important given the nature of the Group’s activities and the use of percentage-of-completion accounting.

The directors remain confident in the long-term prospects of the Group. The business is well placed to pursue further opportunities in engineering, mechanical and electrical installation, particularly where projects require international delivery capability and technical expertise.

Looking ahead, the directors intend to continue focusing on profitable projects and disciplined margin management, strengthening financial controls, reporting processes and cost oversight, investing in internal processes and systems to improve efficiency and scalability, managing cross-border compliance obligations carefully, and maintaining a strong balance sheet and cash position to support future growth.

The directors believe that the Group’s operational experience, international reach, improving financial discipline and continued investment in support functions provide a solid platform for sustainable and profitable growth.

On behalf of the board

The directors present their annual report and financial statements for the year ended 31 December 2025.

The principal activity of the group continued to be that of the provision of engineering, mechanical and electrical installation services. The principal activity of the company is that of a holding company.

The results for the year are set out on page 12.

Ordinary dividends were paid amounting to £203,000. The directors do not recommend payment of a further dividend.

The directors who held office during the year and up to the date of signature of the financial statements were as follows:

The company has made qualifying third party indemnity provisions for the benefit of its directors during the year. These provisions remain in force at the reporting date.

The auditor, Verallo, is deemed to be reappointed under section 487(2) of the Companies Act 2006.

The directors are responsible for preparing the Annual Report and the financial statements in accordance with applicable law and regulations.

Company law requires the directors to prepare financial statements for each financial year. Under that law the directors have elected to prepare the financial statements in accordance with United Kingdom Generally Accepted Accounting Practice (United Kingdom Accounting Standards and applicable law). Under company law the directors must not approve the financial statements unless they are satisfied that they give a true and fair view of the state of affairs of the group and company, and of the profit or loss of the group for that period. In preparing these financial statements, the directors are required to:

• select suitable accounting policies and then apply them consistently;

• make judgements and accounting estimates that are reasonable and prudent;

• state whether applicable UK Accounting Standards have been followed, subject to any material departures disclosed and explained in the financial statements;

• prepare the financial statements on the going concern basis unless it is inappropriate to presume that the group and company will continue in business.

The directors are responsible for keeping adequate accounting records that are sufficient to show and explain the group’s and company’s transactions and disclose with reasonable accuracy at any time the financial position of the group and company and enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the group and company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

The truegroup has chosen in accordance with Companies Act 2006, s. 414C(11) to set out in the group's strategic report information required by Large and Medium-sized Companies and Groups (Accounts and Reports) Regulations 2008, Sch. 7 to be contained in the directors' report. It has done so in respect of the fair review of the business and future developments and business risks.

So far as each person who was a director at the date of approving this report is aware, there is no relevant audit information of which the auditor of the company is unaware. Additionally, the directors individually have taken all the necessary steps that they ought to have taken as directors in order to make themselves aware of all relevant audit information and to establish that the auditor of the company is aware of that information.

We have audited the financial statements of Sintec Holding Limited (the 'parent company') and its subsidiaries (the 'group') for the year ended 31 December 2025 which comprise the group profit and loss account, the group statement of comprehensive income, the group balance sheet, the company balance sheet, the group statement of changes in equity, the company statement of changes in equity, the group statement of cash flows and notes to the financial statements, including significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards, including Financial Reporting Standard 102 The Financial Reporting Standard applicable in the UK and Republic of Ireland (United Kingdom Generally Accepted Accounting Practice).

In our opinion the financial statements:

• give a true and fair view of the state of the group's and the parent company's affairs as at 31 December 2025 and of the group's profit for the year then ended;

• have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practice; and

• have been prepared in accordance with the requirements of the Companies Act 2006.

Basis for opinion

We conducted our audit in accordance with International Standards on Auditing (UK) (ISAs (UK)) and applicable law. Our responsibilities under those standards are further described in the Auditor's responsibilities for the audit of the financial statements section of our report. We are independent of the group and parent company in accordance with the ethical requirements that are relevant to our audit of the financial statements in the UK, including the FRC’s Ethical Standard, and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion.

Conclusions relating to going concern

Based on the work we have performed, we have not identified any material uncertainties relating to events or conditions that, individually or collectively, may cast significant doubt on the company's ability to continue as a going concern for a period of at least twelve months from the date of approval of the financial statements.

In auditing the financial statements, we have concluded that the directors' use of the going concern basis of accounting in the preparation of the financial statements is appropriate.

However, because not all events or conditions can be predicted, this conclusion is not a guarantee as to the company’s ability to continue as a going concern.

Our responsibilities and the responsibilities of the directors with respect to going concern are described in the relevant sections of this report.

Other information

The other information comprises the information included in the annual report other than the financial statements and our auditor's report thereon. The directors are responsible for the other information contained within the annual report. Our opinion on the financial statements does not cover the other information and, except to the extent otherwise explicitly stated in our report, we do not express any form of assurance conclusion thereon. Our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the financial statements or our knowledge obtained in the course of the audit, or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether this gives rise to a material misstatement in the financial statements themselves. If, based on the work we have performed, we conclude that there is a material misstatement of this other information, we are required to report that fact.

We have nothing to report in this regard.

Opinions on other matters prescribed by the Companies Act 2006

In our opinion, based on the work undertaken in the course of our audit:

• the information given in the strategic report and the directors' report for the financial year for which the financial statements are prepared is consistent with the financial statements; and

• the strategic report and the directors' report have been prepared in accordance with applicable legal requirements.

In the light of the knowledge and understanding of the group and the parent company and their environment obtained in the course of the audit, we have not identified material misstatements in the strategic report or the directors' report. We have nothing to report in respect of the following matters in relation to which the Companies Act 2006 requires us to report to you if, in our opinion:

• adequate accounting records have not been kept by the parent company, or returns adequate for our audit have not been received from branches not visited by us; or

• the parent company financial statements are not in agreement with the accounting records and returns; or

• certain disclosures of directors' remuneration specified by law are not made; or

• we have not received all the information and explanations we require for our audit.

As explained more fully in the directors' responsibilities statement, the directors are responsible for the preparation of the financial statements and for being satisfied that they give a true and fair view, and for such internal control as the directors determine is necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error. In preparing the financial statements, the directors are responsible for assessing the parent company's ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the directors either intend to liquidate the parent company or to cease operations, or have no realistic alternative but to do so.

Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue an auditor's report that includes our opinion.

Reasonable assurance is a high level of assurance but is not a guarantee that an audit conducted in accordance with ISAs (UK) will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these financial statements.

As part of an audit in accordance with ISAs (UK), we exercise professional judgement and maintain professional scepticism throughout the audit. We also:

• identify and assess the risks of material misstatement of the entity’s financial statements, whether due to fraud or error, design and perform audit procedures responsive to those risks, and obtain audit evidence that is sufficient and appropriate to provide a basis for our opinion. The risk of not detecting a material misstatement resulting from fraud is higher than for one resulting from error, as fraud may involve collusion, forgery, intentional omissions, misrepresentations, or the override of internal control

• obtain an understanding of internal control relevant to the audit in order to design audit procedures that are appropriate in the circumstances, but not for the purpose of expressing an opinion on the effectiveness of the entity’s internal control;

• evaluate the appropriateness of accounting policies used and the reasonableness of accounting estimates and related disclosures made by the directors;

• conclude on the appropriateness of the directors’ use of the going concern basis of accounting and, based on the audit evidence obtained, whether a material uncertainty exists related to events or conditions that may cast significant doubt on the entity’s or the parent company’s ability to continue as a going concern. If we conclude that a material uncertainty exists, we are required to draw attention in our auditor’s report to the related disclosures in the financial statements or, if such disclosures are inadequate, to modify our opinion. Our conclusions are based on the audit evidence obtained up to the date of our auditor’s report. However, future events or conditions may cause the group or the parent company to cease to continue as a going concern; and

• evaluate the overall presentation, structure and content of the financial statements, including the disclosures, and whether the financial statements represent the underlying transactions and events in a manner that achieves fair presentation (i.e. gives a true and fair view).

We communicate with those charged with governance regarding, among other matters, the planned scope and timing of the audit and significant audit findings, including any significant deficiencies in internal control that we identify during our audit.

The extent to which our procedures are capable of detecting irregularities, including fraud, is detailed below.

Our approach was as follows:

• we identified areas of laws and regulations that could reasonably be expected to have a material effect on the financial statements from our general commercial and sector experience, and through discussion with the directors and other management (as required by auditing standards), and discussed with the directors and other management the policies and procedures regarding compliance with laws and regulations;

• we considered the legal and regulatory frameworks directly applicable to the financial statements reporting framework (FRS 102 and the Companies Act 2006) and the relevant tax compliance regulations in the UK;

• we considered the nature of the industry, the control environment and business performance, including the key drivers for management’s remuneration;

• we communicated identified laws and regulations throughout our team and remained alert to any indications of non-compliance throughout the audit;

• we considered the procedures and controls that the companies have established to address risks identified, or that otherwise prevent, deter and detect fraud; and how senior management monitors those programmes and controls.

Based on this understanding we designed our audit procedures to identify non-compliance with such laws and regulations. Where the risk was considered to be higher, we performed audit procedures to address each identified fraud risk. These procedures included: testing manual journals; reviewing the financial statement disclosures and testing to supporting documentation; performing analytical procedures; and enquiring of management, and were designed to provide reasonable assurance that the financial statements were free from fraud or error.

Owing to the inherent limitations of an audit, there is an unavoidable risk that we may not have detected some material misstatements in the financial statements, even though we have properly planned and performed our audit in accordance with auditing standards. For example, the further removed non-compliance with laws and regulations (irregularities) is from the events and transactions reflected in the financial statements, the less likely the inherently limited procedures required by auditing standards would identify it. The risk is also greater regarding irregularities occurring due to fraud rather than error, as fraud involves intentional concealment, forgery, collusion, omission or misrepresentation. We are not responsible for preventing non-compliance and cannot be expected to detect non-compliance with all laws and regulations.

A further description of our responsibilities is available on the Financial Reporting Council’s website at: https://www.frc.org.uk/library/standards-codes-policy/audit-assurance-and-ethics/auditors-responsibilities-for-the-audit. This description forms part of our auditor’s report.

Use of our report

This report is made solely to the company’s members, as a body, in accordance with Chapter 3 of Part 16 of the Companies Act 2006. Our audit work has been undertaken so that we might state to the company’s members those matters we are required to state to them in an auditor's report and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the company and the company’s members as a body, for our audit work, for this report, or for the opinions we have formed.

The notes on pages 20 to 43 form part of these financial statements.

As permitted by s408 Companies Act 2006, the company has not presented its own profit and loss account and related notes. The company’s profit for the year was £1,770,327 (2024 - £16,536 loss).

The notes on pages 20 to 43 form part of these financial statements.

The notes on pages 20 to 43 form part of these financial statements.

The notes on pages 20 to 43 form part of these financial statements.

Sintec Holding Limited (“the company”) is a private limited company domiciled and incorporated in England and Wales. The registered office is Unit 23, Metro Centre, Britannia Way, Park Royal, London, United Kingdom, NW10 7PA.

The group consists of Sintec Holding Limited and all of its subsidiaries.

These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006.

The financial statements are prepared in sterling, which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £.

As permitted by s408 of the Companies Act 2006 the company has chosen not to present its own profit & loss account and instead notes The Company's profit for the year was £1,770,327 (2024 - £16,536 loss).

The financial statements have been prepared under the historical cost convention, with the exception of investment properties which are carried at fair value. The principal accounting policies adopted are set out below.

The parent company is a qualifying entity for the purposes of FRS 102, being a member of a group where the parent of that group prepares publicly available consolidated financial statements, including this company, which are intended to give a true and fair view of the assets, liabilities, financial position and profit or loss of the group. The company has therefore taken advantage of exemptions from the following disclosure requirements for parent company information presented within the consolidated financial statements:

• Section 7 ‘Statement of Cash Flows’: Presentation of a statement of cash flow and related notes and disclosures;

• Section 11 ‘Basic Financial Instruments’ and Section 12 ‘Other Financial Instrument Issues: Interest income/expense and net gains/losses for financial instruments not measured at fair value; basis of determining fair values; details of collateral, loan defaults or breaches, details of hedges, hedging fair value changes recognised in profit or loss and in other comprehensive income;

• Section 26 ‘Share based Payment’: Share-based payment expense charged to profit or loss, reconciliation of opening and closing number and weighted average exercise price of share options, how the fair value of options granted was measured, measurement and carrying amount of liabilities for cash-settled share-based payments, explanation of modifications to arrangements;

• Section 33 ‘Related Party Disclosures’: Compensation for key management personnel.

On 28 July 2021 a group restructure took place involving Sintec UK Limited and all of the group companies, this restructure has been accounted for as a merger and as such the value of all assets and liabilities has remained unchanged.

The consolidated group financial statements consist of the financial statements of the parent company Sintec Holding Limited together with all entities controlled by the parent company (its subsidiaries) and the group’s share of its interests in joint ventures and associates.

All financial statements are made up to 31 December 2025. Where necessary, adjustments are made to the financial statements of subsidiaries to bring the accounting policies used into line with those used by other members of the group.

All intra-group transactions, balances and unrealised gains on transactions between group companies are eliminated on consolidation. Unrealised losses are also eliminated unless the transaction provides evidence of an impairment of the asset transferred.

Subsidiaries are consolidated in the group’s financial statements from the date that control commences until the date that control ceases.

At the time of approving the financial statements, the directors have a reasonable expectation that the group has adequate resources to continue in operational existence for the foreseeable future. Thus the directors continue to adopt the going concern basis of accounting in preparing the financial statements.

Turnover represents the value, net of value added tax and discounts, derived from contracts with customers for the provision of goods and services in the ordinary course of the company's activities. The company recognises turnover in line with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland.

Turnover is recognised when control of goods or services transfers to the customer, the amount can be measured reliably, economic benefits are probable, and costs can be measured reliably. Revenue is measured at the fair value of consideration received, net of VAT, discounts and rebates.

Turnover from the sale of goods and materials is recognised when control passes, normally on delivery or installation.

Turnover from the provision of projects and installation services is recognised on a percentage-of-completion basis using input method. Loss making contracts are recognised immediately. Where contract modifications are made, these are treated as separate contracts if distinct goods/services are added at stand-alone prices; otherwise adjustments made are to the existing contract.

Negative goodwill arises when the fair value of the identifiable assets and liabilities acquired exceeds the cost of a business combination.

The Group reassesses the identification and measurement of the acquiree’s identifiable assets, liabilities and contingent liabilities and the measurement of the consideration transferred to ensure that all amounts have been appropriately recognised and measured.

Any excess remaining after reassessment is recognised as negative goodwill and presented separately on the balance sheet.

Negative goodwill up to the fair value of the non-monetary assets acquired is recognised in profit or loss in the periods in which those non-monetary assets are recovered, in line with the expected pattern of recovery, whether through depreciation, amortisation or sale.

Intangible assets acquired separately from a business are recognised at cost and are subsequently measured at cost less accumulated amortisation and accumulated impairment losses.

Amortisation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:

Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.

Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:

The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, if there is an indication of significant change since the last reporting period.

Freehold land and assets in the course of construction are not depreciated.

Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised within "other operating income or losses" in the statement of comprehensive income.

Investment property, which is property held to earn rentals and/or for capital appreciation, is initially recognised at cost, which includes the purchase cost and any directly attributable expenditure. Subsequently it is measured at fair value at the reporting end date. Changes in fair value are recognised in profit or loss.

Interests in subsidiaries, associates and jointly controlled entities are initially measured at cost and subsequently measured at cost less any impairment losses. The investments are assessed for impairment at each reporting period date and any impairment losses or reversals of impairment losses are recognised immediately in profit or loss.

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the stocks to their present location and condition.

Stocks held for distribution at no or nominal consideration are measured at the lower of cost and replacement cost, adjusted where applicable for any loss of service potential.

At each reporting date, an assessment is made for impairment. Any excess of the carrying amount of stocks over its estimated selling price less costs to complete and sell is recognised as an impairment loss in profit or loss. Reversals of impairment losses are also recognised in profit or loss.

Cash and cash equivalents are basic financial assets and include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.

The group has elected to apply the provisions of Section 11 ‘Basic Financial Instruments’ and Section 12 ‘Other Financial Instruments Issues’ of FRS 102 to all of its financial instruments.

Financial instruments are recognised in the group's balance sheet when the group becomes party to the contractual provisions of the instrument.

Financial assets and liabilities are offset and the net amounts presented in the financial statements when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Financial assets classified as receivable within one year are not amortised.

Other financial assets, including investments in equity instruments which are not subsidiaries, associates or joint ventures, are initially measured at fair value, which is normally the transaction price. Such assets are subsequently carried at fair value and the changes in fair value are recognised in profit or loss, except that investments in equity instruments that are not publicly traded and whose fair values cannot be measured reliably are measured at cost less impairment.

Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the group after deducting all of its liabilities.

Basic financial liabilities, including creditors, bank loans and loans from fellow group companies are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.

Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Amounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method.

Equity instruments issued by the group are recorded at the proceeds received, net of transaction costs. Dividends payable on equity instruments are recognised as liabilities once they are no longer at the discretion of the group.

The tax expense represents the sum of the tax currently payable and deferred tax.

The tax currently payable is based on taxable profit for the year. Taxable profit differs from net profit as reported in the profit and loss account because it excludes items of income or expense that are taxable or deductible in other years and it further excludes items that are never taxable or deductible. The group’s liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the reporting end date.

Deferred tax liabilities are generally recognised for all timing differences and deferred tax assets are recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Such assets and liabilities are not recognised if the timing difference arises from goodwill or from the initial recognition of other assets and liabilities in a transaction that affects neither the tax profit nor the accounting profit.

The carrying amount of deferred tax assets is reviewed at each reporting end date and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered. Deferred tax is calculated at the tax rates that are expected to apply in the period when the liability is settled or the asset is realised. Deferred tax is charged or credited in the profit and loss account, except when it relates to items charged or credited directly to equity, in which case the deferred tax is also dealt with in equity. Deferred tax assets and liabilities are offset if, and only if, there is a legally enforceable right to offset current tax assets and liabilities and the deferred tax assets and liabilities relate to taxes levied by the same tax authority.

The costs of short-term employee benefits are recognised as a liability and an expense, unless those costs are required to be recognised as part of the cost of stock or fixed assets.

The cost of any unused holiday entitlement is recognised in the period in which the employee’s services are received.

Termination benefits are recognised immediately as an expense when the company is demonstrably committed to terminate the employment of an employee or to provide termination benefits.

Payments to defined contribution retirement benefit schemes are charged as an expense as they fall due.

Leases are classified as finance leases whenever the terms of the lease transfer substantially all the risks and rewards of ownership to the lessees. All other leases are classified as operating leases.

Assets held under finance leases are recognised as assets at the lower of the assets fair value at the date of inception and the present value of the minimum lease payments. The related liability is included in the balance sheet as a finance lease obligation. Lease payments are treated as consisting of capital and interest elements. The interest is charged to profit or loss so as to produce a constant periodic rate of interest on the remaining balance of the liability.

Rentals payable under operating leases, including any lease incentives received, are charged to profit or loss on a straight line basis over the term of the relevant lease except where another more systematic basis is more representative of the time pattern in which economic benefits from the leased asset are consumed.

Transactions and balances:

Transactions in currencies other than pounds sterling are recorded at the rates of exchange prevailing at the dates of the transactions. At each reporting end date, monetary assets and liabilities that are denominated in foreign currencies are retranslated at the rates prevailing on the reporting end date. Gains and losses arising on translation in the period are included in profit or loss.

Functional and presentational currency:

Items included in the financial statements of each of the Group's entities are measured using the currency of the primary economic environment in which the entity operates ("the functional currency"). The consolidated financial statements are presented in sterling, which is the Group's presentational currency.

On consolidation, the results of overseas operations are translated into sterling at rates approximating to those ruling when the transaction took place. All assets and liabilities of overseas operations are translated at the ruling at the reporting date, including any goodwill in relation to that entity. Exchange differences arising on translating the operating net assets at opening rate and the results of overseas operations at actual rate are recognised in other comprehensive income.

Reserves

The group and parent company's reserves are as follows:

• Called up share capital reserve represents the nominal value of the shares issued.

• Fair value reserve represents the gains arising from increases in the value of freehold property and investment property.

• Profit and loss account represents cumulative profits or losses, net of dividends paid and other adjustments.

In the application of the group’s accounting policies, the directors are required to make judgements, estimates and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates.

The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised where the revision affects only that period, or in the period of the revision and future periods where the revision affects both current and future periods.

The estimates and assumptions which have a significant risk of causing a material adjustment to the carrying amount of assets and liabilities are as follows.

The directors estimate the levels of stocks held on site for each project at the year-end, the levels held are based on the stage of completion of the project. At the year end, a balance of £222,894 (2024: £139,593), is recognised in stock, in relation to goods on site. These estimations are reviewed on a monthly basis and updated in the management accounts accordingly.

Negative goodwill is amortised to the profit or loss account over the period in which the non-monetary assets acquired are recovered, such as through the sale or depreciation of the property. This was deemed to be by 31 December 2025, and therefore the balance has been amortised in full, in the current year.

The Group enters into long term contracts with its customers. The Group and Company recognises revenue, and therefore profit, on service contracts in progress at the year-end where reasonable confidence can be taken in the profitable completion. At the year-end, professional judgement is applied by the directors in reviewing the cost to complete on each project to determine the revenue that should be recognised in the current year and the amount to be carried forward. The review of the completion and billing continues to be reviewed on a monthly basis, with any variances being released to the profit and loss as they arise.

Amortisation charges on the group's intangible assets are recognised in the administrative expenses line in the statement of profit and loss.

The amount of exchange differences recognised in other comprehensive income arising during the year was a loss of £23,741 (2024: a gain of £25,095).

The average monthly number of persons (including directors) employed by the group and company during the year was:

Their aggregate remuneration comprised:

The number of directors for whom retirement benefits are accruing under defined contribution schemes amounted to 1 (2024 - 1).

Investment income includes the following:

The actual charge for the year can be reconciled to the expected charge for the year based on the profit or loss and the standard rate of tax as follows:

In addition to the amount charged to the profit and loss account, the following amounts relating to tax have been recognised directly in other comprehensive income:

On 18 December 2024, the group disposed of Sintec EU Limited. The profit on disposal of Sintec EU Limited has been calculated as follows:

On 11 November 2024, 100% of the share capital of Sintec Properties Latvia was acquired, in exchange for the £420,744 loan owed by the entity to Sintec Holdings Limited. The net assets of the Sintec Properties Latvia at the time of acquisition amounted to £443,746 resulting in negative goodwill of £23,002. The negative goodwill will released to the profit and loss account when the non-monetary assets acquired are recovered, such as through sale or depreciation of the property.

In June 2025, the lease between Sintec Properties and another member of the Sintec Holding Group ceased. From July 2025 the property has been leased to a third-party tenant. In accordance with FRS 102, Section 16 Investment Property, during the year, the property has been reclassified from Freehold Property (fixed assets) to Investment Property, as its primary purpose has changed from being used by the Group to generating rental income from external parties,

At the date of reclassification, the company engaged an external, independent valuer to determine the fair value of the investment property. As at 1 July 2025, the fair value of the investment property increased by £235,458, which has been recognised through the fair value reserve.

The historic cost of the investment property at the year end is £93,325.

Details of the company's subsidiaries at 31 December 2025 are as follows:

As permitted by the reduced disclosure framework within FRS 102, the company has taken advantage of the exemption from disclosing the carrying amount of certain classes of financial instruments, denoted by 'n/a' above.

Financial assets measured at amortised cost comprise cash and cash equivalents, trade debtors, other debtors, and associated undertakings. A financial liability measured at amortised cost comprises bank loans, trade creditors, other creditors and accruals.

Obligations under finance leases are secured on the assets they were used to acquire. They are repayable on an instalment basis, at interest rates between 3.72% and 6.09%.

The HSBC PLC bank loans are secured by fixed charges over the leasehold property Flat 4, Uplyme House, 35 Amersham Road, High Wycombe, Buckinghamshire. The loan is due for repayment in instalments by March 2031 and interest is charged at 3% above base.

A Coronavirus Business Interruption Loan was obtained from HSBC UK Bank PLC in June 2020. The loan is repayable in instalments by July 2026 and is subject to interest at 3.99% above base rate. The loan is supported by both the government and a personal guarantee by a director totalling £40,000. Subsequent to the year end, the loan has been repaid in full.

In addition, HSBC PLC holds a fixed and floating charge over the undertakings, all properties of the company and all assets present and future, as dated 11 April 2011.

The finance leases are for motor vehicles. These are recognised as tangible fixed assets. The lease agreements are for fixed lease payments and include a purchase option at the end of the lease term.

The following are the major deferred tax liabilities and assets recognised by the group and company, and movements thereon:

A defined contribution pension scheme is operated for all qualifying employees. The assets of the scheme are held separately from those of the group in an independently administered fund.

The company/group has one class of Ordinary share. Each share is:

• entitled to one vote in any circumstance;

• entitled to dividend payments or any other distribution; and

• entitled to participate in a distribution arising from a winding up of the company.

The Group and Company’s reserves are as follows:

Represents the nominal value of the shares issued.

Represents the gains arising from increases in the value of freehold property.

Represents cumulative profits or losses, net of dividends paid and other adjustments.

As a result of work completed on 20 June 2024, £100,000 was placed in escrow with Barclays in favour of Jungheinrich Systemlösungen GmbH. These funds were restricted and not available for use until the earlier of contract completion or three months after the expiry of the warranty period.

Subsequent to the year end, the full amount of £100,000 was released from escrow and returned.

There is a composite company limited multi-lateral guarantee dated 14 March 2016, given by Sintec Properties Limited and Sintec UK Limited, to the value of £135,000.

At the reporting end date the group had outstanding commitments for future minimum lease payments under non-cancellable operating leases, which fall due as follows:

Since the year end, geopolitical tensions in the middle east have escalated. The group and company has assessed the potential impact of these events and while no material financial effect has been identified at the date of approval of these financial statements, the situation remains uncertain and is being monitored.

The remuneration of key management personnel is as follows.

The company has taken advantage of the exemption allowed under Section 33.1A of FRS 102 not to disclose transactions with wholly owned members of the group.

At the beginning of the year, the directors owed the company £3,471 (2024 - £3,421). During the year, repayments of £379 were made to the directors. At the balance sheet date, the directors owed the company £3,092 (2024 – £3,470). The amounts advanced are interest-free, unsecured and repayable on demand.

During the year the group traded with an entity under common control. During the year sales of £65,403 (2024: Purchases of £87,067) were made. At the year end, the related party owed the group £8,919 (2024: Group owed the related party £87,067).

At the balance sheet date, the ultimate controlling party was Mr. S. Morozov by virtue of his shareholding in the company.